Market Overview

UPDATE: Oppenheimer Upgrades Momo Names Netflix, Yelp

Share:
Related NFLX
Netflix Asks FCC To Block AT&T/DirecTV Merger
Jim Cramer Notes Big Swing In BofA's Netflix View
Priceline, Netflix Push Leisure Industries Higher (Investor's Business Daily)
Related YELP
Yelp: What The Street Thinks Now
The Best (And Worst) ETFs Of Last Week Amid Social Media's Collapse
Yelp: Despite Competition It Can Still Be A Good Buy (GuruFocus)

The selloff in momentum names like Netflix (NASDAQ: NFLX) and Yelp (NYSE: YELP) has created a buying opportunity, according to Oppenheimer analyst Jason Helfstein.

The analyst upgraded both stocks from Perform to Outperform and has price targets of $419 and $78 for Netflix and Yelp, respectively.

Helfstein believes the near-term fundamentals remain unchanged in the face of negative headlines for both companies.

Amazon's set-top box launch “will actually be a positive for NFLX, as a featured application,” the Oppenheimer analyst said.

The FTC investigation of false or fraudulent reviews on Yelp is “mostly noise,” in Helfstein's eyes.

According to Ari Wald, Oppenheimer's technical analyst, “the chart pattern suggests a near-term bounce if market stabilizes” as both stocks are sitting on support levels.

Shares of Netflix are flat in Monday's trading, while shares of Yelp are down 0.46 percent.

Latest Ratings for NFLX

DateFirmActionFromTo
May 2015Bank of AmericaUpgradesNeutralBuy
Apr 2015Stifel NicolausMaintainsBuy
Apr 2015BairdMaintainsOutperform

View More Analyst Ratings for NFLX
View the Latest Analyst Ratings

Posted-In: Jason Helfstein OppenheimerAnalyst Color Upgrades Price Target Analyst Ratings

 

Related Articles (NFLX + YELP)

Around the Web, We're Loving...